| Business News Full Story: |
| Citigroup shares drop; CEO plans to keep Smith Barney
(Reuters)
|
 Reuters - Citigroup Inc Chief Executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence, but shares still tumbled for a fifth straight day.
|
| Obama moves to pick Geithner for Treasury
(Reuters)
|
 Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive.
|
| Wall Street stages late rally on Geithner news
(Reuters)
|
 Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action.
|
| Goldman cool to Citi deal even with U.S. aid: source
(Reuters)
|
| Reuters - Goldman Sachs Group Inc is not interested in buying hard-hit Citigroup Inc , even with substantial U.S. government financial support, a person familiar with Goldman's strategy said Friday. |
| Wal-Mart's Scott retiring as CEO, Duke to succeed
(Reuters)
|
 Reuters - Wal-Mart Stores Inc , which is gaining market share amid a global economic downturn, said Lee Scott will retire as chief executive early next year and will be succeeded by Mike Duke, who heads its international operations.
|
|
